Two top Moore Capital Management traders are readying their own global macro hedge fund for launch early next year.

Stone Milliner Asset Management will debut in the first quarter with about US$1 billion in assets under management. The firm is the brainchild of Moore traders Jens-Peter Stein and Kornelius Klobucar, and will be backed by Moore.

Moore will provide seed funding for the new London-based shop, which will include Stein's and Klobucar's London-based team; Stein and Klobucar are based in Switzerland. According to the published reports, Moore hopes to maintain a relationship with the two traders, who joined the firm in 2006, similar to that of another spin-off, James Caird Asset Management.

The two men will continue to manage money for Moore's Macro Managers fund until Stone Milliner's launch.

Among the members of Stone Milliner's London team are Christopher Nicoll, the former co-head of foreign exchange at Morgan Stanley who joined Moore with Stein and Klobucar in 2006. The firm has also hired RAB Capital's Adam Grant as CFO and former Morgan Stanley directors Peter Murray and Paul Kimball, as well as a full-time chief operating officer.

Stone Milliner is currently awaiting approval from the U.K. Financial Services Authority.

Editor's Note

In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…